Bitcoin Conference Prague 2015 to lay out the future of online gambling currencies?Wednesday, May 13, 2015
With more and more businesses adopting Bitcoin as their number one cryptocurrency of choice many gambling industry experts see the digital currency as the future of payment options for the iGaming industry. On the 14th of May 2015, the beautiful city of Prague in the Czech Republic will host this year’s Official Bitcoin conference. What does this mean then for the future of iGaming? Read on to find out.
Bitcoin in gambling
iGaming was one of the first marketplaces that successfully adopted Bitcoins as an official payment method with brands like Zynga leading the charge in this new age of digital currencies. Glancing at the programme for this year’s conference we see a whole section dedicated to the application of Bitcoin into the online gambling market, both as a solution for the global gaming marketplace and as an opportunity for online gambling affiliates. The conference will also see the official release of the world’s first Bitcoin themed Slot Game by Endorphina called “Satoshi’s Secret”, a slot based around the digital currencies creator Satoshi Nakamoto.
Key industry speakers
This year’s conference will see 2 dedicated gambling orientated presentations. The first, being delivered by SoftSwiss founder and CEO Ivan Montik, will deal with Bitcoins introduction into the global online gaming market. In 2013, his company introduced a product called Online Casino Platform at ICE Totally Gaming in London and was praised by industry leaders for game design as well as high security.
The second will be delivered by Marc Kenigsberg and will deal with how Bitcoin gambling will become the next big opportunity for gambling affiliates. Kenigsberg is a veteran of the gambling industry with over 15 years’ experience in marketing for some of the largest licensees of Playtech and Microgaming as well as the founder of bitcoinchaser.com, a site dedicated to promoting bitcoin gambling and bitcoin casinos.
Bitcoin, a dirty word?
“iGaming has the potential to become bitcoins saviour because if adopted en mass, it could open the door for more practical applications and further integration for the digital currency”.
With the recent scandals that have hit bitcoin such as the collapse of Mt. Gox, the Silk Road scandal and the arrest and subsequent imprisonment of various bitcoin operators, it will take some hefty investment by some key players in the gambling industry to really inspire confidence in the digital currency among online gamblers. In actual fact iGaming has the potential to become bitcoins saviour because if adopted en mass, it could open the door for more practical applications and further integration for the digital currency.
Only time will tell
Whether or not it becomes as popular as other existing traditional methods of payment in the iGaming world, Bitcoin has already opened many avenues with regards to online gambling. The world’s largest bitcoin casino platform, coingaming.io, recently integrated the entire suite of Endorphina casino games to its already huge offering of over online 700 slot games and players from more than 70 countries have already used Bitcoin to play casino games online.
The conference will go a long way to cement the already popular idea of the introduction of Bitcoin into the iGaming landscape, but some factors still remain that will work to its detriment, most notably the lack of being able to execute real time transfers because of how Bitcoin works.
It’s an exciting prospect none the less and here at casino-deposit-bonuses.info we continue to watch its development and integration into online gambling with a keen eye. Whether or not it becomes the leading payment method used by all online casinos is not really the issue because as long as it defines itself as a safe and easy method of payment, more people will adopt it for use alongside traditional payment methods and it will continue to gain popularity with online casino players and general consumers alike.